Precious Metal

Precious Metal, Precious Metals, Gold, Silver, Platinum, Palladium, Coins

Platinum Mines

Platinum is by far one of the most sought after of the precious metals and because of its rarity, it has been able to maintain a very high value over time. Thousands of years ago, most civilizations focused solely on gold and silver for coinage and currency, not realizing just how valuable platinum could be. It wasn’t until more recent years that people started taking advantage of the physical and chemical properties of platinum to manufacture products while also using it to make beautiful jewelry. They call platinum “rich man’s gold” because it is just as beautiful as gold, but much more expensive.

Platinum Mining

Most people take the process of pulling metals and minerals out of the ground, also called mining, for granted. They see these metals everywhere in jewelry stores and just assume that because they are sold everywhere that they are easy to find and refine. Well the truth is that this just isn’t the case, in fact platinum mining is one of the least productive forms of mining because of the way that platinum resides in the earth. Much of the platinum, which is one of the rarest forms of metals in the world, that is mined, is found as a result of mining for other metals, such as gold and silver. To help you better understand how platinum mining works, here is a brief guide to the process and how it is used in the world.

Selling Platinum

If you have been investing in precious metals during some point in your life, then you are probably thinking about the time when you need to unload all that gold, silver, and platinum so that you can liquefy your assets and start making the necessary preparations for retirement. Well, fortunately selling platinum and the other precious metals is just as easy as buying it, in fact it might be easier. The great thing about investing in precious metals is that the process is not overcomplicated or confusing. The best way to star selling platinum, whether for profit or just to cash out is to follow the steps outlined in this guide.

Buying Platinum

With the current state of the financial markets, it can be tough to find a place to store your money without risking it all on a bad stock or mutual fund. These days, even the safe bets have turned out to be risky propositions that have cost people their retirement funds and their children’s college funds. This makes it even more imperative to find other assets that you can use to diversify your portfolio and prevent risking your entire savings on a single account. One of the best ways that you can do this is by investing in precious metals. You’ve probably heard a lot about investing in gold, maybe even silver, but where it’s really at is platinum, and I’m going to tell you why.

Platinum Refining

Have you ever wondered if you could collect your own batch of old jewelry or metal scrap and find a way to melt it down, refine it, and then turn it into some form of investment? Well the truth is that you can do it with nearly any precious metal, however the process differs depending on the metal involved and the amount that you have. If you’ve got scrap metal that is mostly pure, then the process will be easier than if you have a bunch of jewelry made of different materials. Although refining gold and silver are very similar processes, in this guide we are going to talk about platinum refining and teach you the basics of how you can find platinum to refine and then turn it into platinum bullion for sale or investment.

Platinum Coins

Did you know that platinum is more than 30 times more rare than gold is and is actually worth over $845 an ounce? In fact, in early 2008, platinum was actually worth well over two thousand dollars per ounce! Although it has dropped significantly in value, the fact that it was worth so much at one time means that it is sure to rise in value again. What this means is that right now you have the chance to invest in platinum at the cheapest price it might see for years!

Platinum Dealers

Although investing in platinum, which is an extremely rare precious metal even when compared to gold, you have to be careful where you buy it from. There are many shady platinum dealers on the internet that will try to sell you platinum at bad prices or using other shady tactics, but if you are careful in selecting the right platinum dealers, then you shouldn’t have a problem. Although platinum investments have a short history, it is likely that platinum prices will continue to increase over the long-term, even though they currently are very volatile.

Platinum Bars

You have probably heard recent radio or television announcements about the benefits of investing in gold. Many pundits and analysts are saying that investing in gold is a great way to preserve capital over the long run. However, there are a lot of other precious metals that can be used as investments aside from gold. Although you don’t hear about them as often, there are several that make good investment vehicles if you do your research and learn how the process works. Investing in platinum bars is a perfect example of this. Many people haven’t heard about the opportunity to invest in platinum, but that doesn’t mean it is nonexistent. To help you learn more about investing in platinum bars, here is a brief guide to platinum investments.

What is Platinum

Platinum is a silvery-white, lustrous metallic element in the third series of transition elements in the periodic system with the symbol "Pt". Its name derives from Spanish expression for silver - la plata because of its appearance which greatly resembles silver.

In contrary to silver and gold which are highly prized metals since the ancient times, platinum was for a long time very inexpensive and was considered worthless until it was discovered that it is very rare metal and that it is resistant against moisture, oxygen and ordinary acids.

History of Platinum

Unlike silver and gold which are highly valued precious metals since the ancient times, platinum does not have such long history and does not have such long tradition of being precious metal. For a long time it was considered worthless although today platinum is more valuable than gold and is normally at least twice the gold price.

Platinum was first discovered by Spanish Conquistadors in Southern America in the 16th century while searching for gold, while first written record of "an unknown noble metal found between Darien and Mexico" dates from 1557 from the writings of Italian humanist Julius Caesar Scaliger. However, platinum was already known and used by pre-Columbian Native Americans, while the modern knowledge of platinum dates from about 1735 when Spanish general, explorer, astronomer and first Spanish governor of Louisiana Antonio de Ulloa reported over existence of platinum while he was on the French Geodesic Mission to Peru.

Platinum Uses

Platinum was used only in a limited way in jewelry until the end of the 19th century because of its rarity and difficulty to work with it. Crucial for its wide commercial uses was the development of method for processing platinum ore by English chemist and physicist William Hyde Wollaston in 1803.

Platinum Investing

In contrary to gold and silver which have a long investing tradition since the ancient times platinum investing is relatively new - from the second half of the 20th century. However, today platinum is highly valued precious metal, considered more prestigious than gold and is normally also at least twice the price of gold. Besides that investing in platinum offers similar advantages as well as disadvantages than investing in any kind of precious metals.

Saving in Platinum

Saving in platinum offers certain advantages in compare with saving in other precious metals as well as with keeping you founds at a bank or some financial institution. Having savings in platinum offers similar security than having savings in other precious metals and thus provides great saving option for all who do not trust various saving institutions and companies as well as for all who are saving for eventual hard times in far future.

Platinum is the most valued precious metal and considered even more prestigious than gold but less prized than diamonds. For that reason platinum will probably be one of few things which will retain its value in eventual collapse of the financial system. We should be aware that (although it is very hard to imagine) future can bring practically everything from World War III to collapse of financial systems, while in the worst case scenario money can became just a worthless paper. It has happen before and there is no guarantee that it will not happen again.

Advantages of Platinum Investment

Platinum as an investment offers certain advantages when compared with investments in stocks or various investment institutions as well as in compare with investments in other precious metals although it is in first place probably attractive for relative security. Like all other precious metals platinum offers incomparable greater security than any kind of other investments such as stocks, securities, investment funds and even investment in real estates although later is often considered one of the safest investments. However, real estates can loose their value, while all real estates are exposed to eventual natural catastrophes.

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Advantages of Saving in Platinum

Saving in platinum provides certain advantages in compare with other saving options as well as in compare with saving in other precious metals which are worth considering before making final decision over your saving type. However, it is never to late to change your mind as well as to change your saving methods.

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Disadvantages of Platinum Investment

It is probably impossible to find an investment which would not have any disadvantages and platinum is not exception. Platinum like all other investments which provide relative safety do not offer any greater possibilities for profit or at least demand certain amount of time and patience.

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Disadvantages of Saving in Platinum

Besides its advantages saving in platinum also has also its disadvantages which should be considered before starting saving in platinum. One of the greatest disadvantages of saving in platinum is probably its physical storing. Although platinum has high prices and consequently does not require so much space than storing for example silver, however, the value of few ounces of platinum is very high and for that reason your platinum has to be stored in a safe place either at your home or in a safe deposit at a bank.

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Platinum Investment - Saving Options

As well as in case of other precious metals the most known and popular platinum investment/saving option is purchase of platinum bullion bars and platinum bullion coins. Both platinum bullion bars and coins can be purchased at certain banks, store selling and purchasing precious metals or from individuals who are selling platinum for any kind of reason. However, in purchasing platinum bullion bars or coins from unknown individuals you should be careful not to overpay its actual value and from eventual fraud, while you also should give minimal personal informations about yourself. Besides that everyone who is investing or saving in platinum should also avoid its purchase at the same place or from the same individuals otherwise the circle of people knowing they are owning platinum dangerously expands.

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